Question

What are the advantages and disadvantages of using a consultant to write your business plan?

Answer 1

Advantages of using a consultant to write your business plan are-

1) It saves time
By using a consultant for writing your business plan it can help in saving a lot of time. The consultant will do all of the necessary research before making the business plan and thus you can utilize this time in doing something else.

2) Expertise
The consultant usually have a lot of knowledge and experience and he can write your business plan very well. They can build a structure which will match towards your business goal and it will also help to increase your productivity.

3) Fixed costs
Usually the consultants charge a fixed amount for writing the business plan, so you can choose them as there are no overheads in it.

4) It fills the gaps in your knowledge
A consultant helps to provides his expertise in writing your business plan and it fills the gaps in your knowledge.
He will point out your business weakness and he will help in making your business grow.

Disadvantages of using a consultant to write your business plan are-

1) Availability issue
As the consultant have a lot of clients which makes him busy, so their availability will be limited. He might not be available when you actually needed him.

2) Expensive
The consultant usually charge a high amount of fee for making your business plan. If you budget is low than hiring a consultant for writing the business plan is a bad option.

3) Standard template
Usually the consultants use a standard template for writing the business plan. In some cases the consultant doesn't have proper knowledge about your industry and that it could create a problem.

4) Uncertainty
There is no guarantee that the plan written by the consultant will actually work. The plan might fail in some cases.